Serco expected to warn on 20 per cent lower profits April 29, 2014 Serco’s shares plummeted almost 20 per cent this morning and have closed over 15 per cent lower, after the struggling outsourcer warned a downgrade to profit forecasts and a possible rights issue may be on the cards. Former Aggreko boss Rupert Soames takes over as Serco’s chief executive on Thursday, but the appointment of this [...]
Gold ETFs in tug of war between Ukraine fears and US growth April 28, 2014 There has been mixed research on gold today. According to Saxo Bank, gold saw a sixth consecutive week of outflows in exchange traded products last week. Investors traditionally buy gold as a safe-haven asset at times of uncertainty, but ongoing fears about the political crisis in Ukraine have been offset by confidence in the US [...]
Centamin strikes gold with Egyptian law change April 24, 2014 Centamin might have finally seen the light at the end of the tunnel, after an extremely long and arduous court dispute over the validity of an exploration licence. Shares surged around 10 per cent in early trading and have edged up even higher this afternoon, after the Egypt-focused gold miner noted a change to a [...]
Debt funds set for bumper returns as Lehman Europe repays all debt September 15, 2013 FIVE years on from the collapse of Lehman Brothers, creditors of the European arm are set to receive a full repayment, creating a windfall for distressed debt funds that bought bonds in the bankrupt bank. Hedge funds, including Paulson & Co, who bought Lehman debt when other investors rushed to sell, are now set to [...]
US growth beats forecasts in second quarter July 31, 2013 THE US economy grew at 1.7 per cent in the second quarter, according to official data released today. The figure beat analysts’ expectations of 1.2 per cent, a positive sign for the US recovery, after fears that federal spending cuts earlier this year would trigger an economic slowdown. The data is an improvement from the [...]
German jobless rate flat in July July 31, 2013 GERMANY'S unemployment rate remained flat at 6.8 per cent in July, according to new official data today. However, the number of people out of work fell by 7,000 to 2.934m, beating analysts’ expectations of a decline of 4,000, a welcome sign for the German economy. Unemployment had fallen by 13,000 the month before.
Emerging markets boost Diageo profits July 31, 2013 DRINKS group Diageo today posted an eight per cent rise in full-year operating profit and a five per cent rise in sales, due to a strong performance in its US spirits business and emerging markets. Emerging markets sales rose 11 per cent and operating profits rose 18 per cent, as increased scale led to operating [...]
EADS to be renamed Airbus July 31, 2013 EADS, the parent company of Airbus, today said it plans to rename itself after its commercial aircraft-making subsidiary. The company will now be called the Airbus Group, to “enhance integration and cohesion…using the globally recognised Airbus brand”. Implementation of the name change is planned to start on 1 January 2014 and will be completed in [...]
Cold winter fires up Centrica earnings July 31, 2013 BRITISH Gas owner Centrica today unveiled a two per cent rise in adjusted earnings for the first half of the year, after an unusually cold winter boosted gas consumption. Overall revenue rose 14 per cent to £13.7bn over the period. “With our customers using more gas to stay warm during the unusually cold winter, we’re [...]
BP profits fall as Gulf spill costs leap in second quarter July 30, 2013 OIL GIANT BP today posted a 25 per cent fall in second-quarter profits to $2.7bn (£1.8bn) year-on-year, due to lower oil prices and higher taxes. The firm also said that provisions for compensation claims relating to the Gulf of Mexico disaster had increased by $1.4bn over the second quarter, bringing total claims costs to $19.7bn [...]
